EVERTON director Paul Gregg wants to make drastic changes at the club to attract new investors.

Gregg, (left), who joined the Goodison board in March 1999, has called for a change in Everton's structure to encourage new investment as he reveals his vision of a five-year plan which he believes can transform the fortunes of the club.

Gregg worked with Bill Kenwright to buy the club in 1999 and the pair formed True Blue Holdings, the company which now owns more than 70 per cent of Everton.

Kenwright and Gregg are the two biggest shareholders of True Blue, with fellow Goodison board members Arthur Abercromby and John Woods also holding shares.

Gregg believes the constitution of True Blue is putting off new investors. But he is confident the changes he is eager to make with the backing of his fellow shareholders could recoup up to #30m for Everton.

He explains: "To live up to everybody's expectations we have got to change and I believe we will get support for the changes.

"The constitution of True Blue makes it very difficult for other investors to be part of Everton Football Club because the control of the club is within True Blue.

"At the moment, investors could put money into the club but still not have a voice in how it goes forward if they are not part of True Blue.

"To make the change the shareholders in True Blue must vote for it. That is something I have been asking to do for 18 months.

"It is a big decision to make changes where control may be relinquished.

"Of course, control could well stay the same if the constitution is changed and there are no new investors. But we need to make it easier for people to bring money and new ideas into the club.

"I believe there are maybe two or three seriously wealthy people on Merseyside who want to invest in Everton but would only do that if they could present their own views on how the club should be run, which would mean places on the board. They would not have that opportunity now.

"Those people could invest collectively or individually to raise #15m.

"But by making it easier for people to invest in the club we could also, in the future, put together a fans' share issue to buy shares for #1,000. If there are 15,000 fans around the world willing to invest then we could bring in another #15m.

"This is about rebuilding the financial base of the club. We need to attract new talent to the board and I believe we should have a five-year plan that will deliver the new academy, develop the opportunity to share a ground with Liverpool and allow David Moyes the chance to build an exciting young team.

"Over that five-year period I would like to see the club accepting that we may not be in the top five but we will be building towards becoming one of the top sides again.

"I am sure that can be achieved. We have a fantastic club and its brand can be used to make that five-year plan a reality.

"It is about selling the club worldwide and maximising the revenues so we can invest in the right players for the future."

These are plans Gregg feels should have already been put into action.

"When my wife and I came into the club it was to support our good friend, Bill Kenwright," he adds..

"But it was also based on the observation that the club had suffered because of a lot of bad management until Bill arrived and there was an opportunity to change Everton Football Club into a major force in the game again.

"My frustration has been that we haven't made those changes and developed the club into what it could be. We have not delivered the club in a way that makes it able to compete with the top clubs in the country."

Gregg has received widespread criticism from Evertonians because of his apparent lack on interest in the club and because he was not a football fan when he put his money into True Blue.

His absence from all of the club's games last season backed up that assessment.

He responds: "The problem is that if you cannot make a contribution, there is no point being in something.

"Everybody has to feel rewarded by what they are doing and I believed that at this club there was a shared ambition. That has not been achieved.

"My family invested a lot of money in the club. We know football is different to other businesses, but my point is that should not stop the club being run properly.

"It should be a business first and then we have got to satisfy the fans because if it isn't run properly we cannot be successful on the pitch.

"But everybody, from the fans to the player to the manager and the directors have got to be signed up to the same plan.

"I may not be preceived as an Evertonian, but I have ambition and pride to see the club at the top.

"Myself and Bill Kenwright never planned to do 'a Roman Abramovich' but we believed the club could be a lot better in many ways.

"We have not achieved that because we have not changed the way the club is run."

Gregg insists his plans do not include the sale of Wayne Rooney.

The 18-year-old is the club's most valuable player but has yet to put pen to paper on a new #50,000-a-week five-year contract.

Like Kenwright and manager David Moyes, Gregg is determined to do all he can to keep Rooney at Goodison.

He concludes: "The frustration for the manager is that he does not know what is happening with Wayne. None of us do.

"We all want him to stay but until that is confirmed from the player and he signs the contract it is difficult to plan his team for the future.

"We have done all we can and now it is down to player.

"We want him to stay because of his relationship with the fans, what he can do for us on the pitch and because he can also help develop the Everton brand and improve our fanbase.

"That is why we made such a generous offer and now the ball is in the player's court."